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Below is an Interesting article I found, which says that.....Do not . b- I# f& O9 @4 Z
expect much from Crude Oil producers and future is not with the
5 b6 v0 h5 j- D$ S+ dcompanies producing Jet fuels but Biofuels. Also no wonder if some of
8 C7 A# O |+ u* l; C+ A1 p9 |these oil producer will go bankrupt or out of the business even if ' B: e0 s% D, n
crude prices improves. This implies also to good names such as Shell, & F' Z0 C# _, Y
EXXON, BG, BP, Cheveron ....xyz.. oils
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" w. N+ p( i2 R; eRecently OPEC reduced crude oil production twice over just a few
2 b( P- R# g3 [2 cmonths. There are three wars going on in Gaza, Iraq and Afghandistan.
" Y9 `9 }' \8 Q- i# RA year ago these things would have spiked the price of crude oil by at
7 k4 |7 \9 w0 y8 ~7 A5 wleast $50.00 per barrel. Today, oil price declined by a record amount. - Q' z! ~, }/ X! g3 k
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There are several reasons the price of oil is decreasing in the face / X7 K4 A, Y% H+ Q0 j8 L; u0 _
of so much news. These reasons are: F3 c5 y& b$ |- B4 h
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, C5 {7 q0 ]: W& g3 t4 W1. New oil has been found in Canada, Montana, North & South Dakota and
5 |0 S4 P) G$ n9 b! s5 f V% }in the ocean near Brazil. Each of these oil fields has more oil than
9 B0 J% B/ X! u" GArabia. 0 v, U* h& u" t6 a
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2. New natural gas has been found in Pennsylvania and West Virginia.
/ S% a% ?, y8 {2 d) m8 Q( @7 m3 YThis is the largest find in North America. ! w% v4 F/ F4 `0 z+ d* [# B
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; d- @0 t% j" ^+ L/ }( z: z# C3. New methods of injecting CO2 and surfactants into oil wells is / s2 g1 C7 s; `
being used to double their output.
5 \; S0 g: v6 `! {- m7 w% V' `0 W! y7 \4 _% C
# _" R; z# m* B9 q9 a: B, ~/ d( R4. Production of bio-fuels is beginning to reach critical mass. Bio : {7 F @$ `8 j2 S+ T7 a- P0 D
fuel is being produced from many plants and algae. The production ' ~) c8 b& F* Y# y2 N
potential per acre in some cases is astounding. Many countries are
( R0 K& r: L& i' a8 w& g- p" Uracing to produce bio fuels. - u3 |1 N6 N. a; u9 I, n
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# N9 T2 s5 o4 L- N7 U5. Virtually every restaurant in the US and all food processing plants 9 }! m2 l9 E) N. p. h/ f: `4 }
are now selling their used oil to bio-diesel producers. Every pork,
6 ^3 v. E. W2 n" Hcattle, turkey and chicken processing plant will soon sell their fat 7 x6 {# s% i s) F
to bio-diesel producers. One pork processing plant in Oklahoma is
6 ~: U/ z$ L- [$ e% p3 Z6 V& eproducing 30,000 gallons of bio-diesel per day from pork fat. # d. s5 ^" O9 `6 S+ B
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6. There are 99 nuclear reactors in various stages of planning and
% [6 \4 t* v6 Kconstruction around the world at this time. Several hundred more are ! d. f# U- G- W: ] U
expected to be built in the future. Much of the energy they produce
! g$ M- }# ^3 L7 Dwill replace oil.
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3 H! W+ A6 S: M! S G. D3 H7. Every company in any form of transportaion business is replacing ( e! l/ B k Z% I |" d8 W. O
older equipment such as trucks, airplanes, train engines, ships, etc. 5 Q6 e1 P! n9 b
with new more fuel efficient equipment. Airlines and railway companies 6 n' r2 E0 g C
are experiencing 20% to 25% better fuel econony with the new & V' e9 G0 x; J! [4 L! c! t+ s
equipment. # X" [2 L" @1 ?" j+ }' H( z
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Airlines are flying airplanes with bio-fuel. They are finding the bio- * y+ q- p" {- t; z; q5 N
fuel is cleaner and performs better than jet fuel.
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8. Cities and counties throughout the US are selling the rights to . A3 B, P) ? J- f2 e6 a
capture methane gas from landfills. This is a huge source of gas 7 o$ l4 }3 L0 K7 o
available at very little cost or risk. The gas is displacing crude 1 a( l2 S/ M! D0 B
oil. 5 Q# ?3 J4 ~& W& x! W
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9. Coal is being transformed into a clean burning liquid fuel. The CO2
/ T8 L9 j& P5 y1 U; Aproduced as a byproduct is sold to oil companies for injection into " _' L' S; L6 D
oil wells. 7 h4 `' Q' Q# _6 w
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10. Solar, wind and ocean energy is displacing oil as an energy
`* e1 j% L4 j& g4 |$ P" F+ M/ i7 Csource. Three new wind turbines are being erected every day in the US.
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Each of the above by itself will not make a large difference in the
1 z* x# R2 K& }5 M" v# |price of crude oil but the sum of all of them together is world " M. v* Z2 U: o1 X; `
changing. The important thing is that OPEC no longer has the ability * y( Z7 B$ Q% T2 i
to control oil prices. & K3 M/ k6 x3 Q5 W
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# w! u( W" T5 v: S) dWith the above scenario, I still believe that there are under
$ W* O, R9 A- y) r, r1 Sperformed OIL companies and probably they are yet to get the justified r" I: T6 l! t
value .....
. e7 ^- U0 Y; P* ~9 n3 N9 l% y9 m* qIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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* V9 I2 {( [ y+ M: CThe above articles are from WSJ .............PUBLISHED ON 9TH JAN
; [( L( X: r, J6 O6 y& l+ T2009 ... FYI-Only |
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发表于 2009-1-13 18:58
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